topic Re: Best credit card for 643 TransUnion. in Credit Cards

Best credit card for 643 TransUnion.

Anonymous — Sun, 06 Aug 2017 13:59:40 GMT

Hello hello, long time lurker of myFico here, decided to set up an account and ask you all for some assistance. I'm looking for some decent approval odds on a credit card (Preferably with CashBack)

My credit score from Mint 649
My TransUnion score(From CreditKarma) is 643 and showing 2 hard inquiries

My Equifax score (From CreditKarma) is 633 and showing 8 hard inquiries (I went overboard when shopping for a new car)

I only have one account and that is my car loan, 8mos. old. 100% On time payments and 0 deragotory marks.

I had one Credit Card back in February of 2015 it got closed for non payment, i filed a dispute with Transunion not too long ago and since then the whole Credit Card has been completely wiped from my Credit report,

If you guys have any suggestions that would be great, and of course i'm willing to provide any additional information needed. Thanks!

Re: Best credit card for 643 TransUnion.

Anonymous — Sun, 06 Aug 2017 14:54:47 GMT

1. Auto inq. Don't effect you when you in the CC market
2. You have to get your scores up even Cap one will triple pull you.

Re: Best credit card for 643 TransUnion.

Anonymous — Sun, 06 Aug 2017 15:09:38 GMT

Thanks for the response! So for my score it's best to just go with something like a secure card for now? Chances aren't too good for an unsecured

Re: Best credit card for 643 TransUnion.

Anonymous — Sun, 06 Aug 2017 15:28:38 GMT

Try Capital One Quicksilver. They give 1.5% cash back on all purchases and I was approved with them the same month as my bankruptcy discharge. They were the first ones that gave me a second chance and approved me with initially $500 and just 2 years later have $2500 credit limit. They've been very good to me and I highly recommend them. Also, my credit score was much lower than 643 when I applied, so you should have no problem being approved.

Re: Best credit card for 643 TransUnion.

Anonymous — Sun, 06 Aug 2017 15:30:10 GMT

@Anonymous wrote:
Thanks for the response! So for my score it's best to just go with something like a secure card for now? Chances aren't too good for an unsecured

Let's pause for a minute.

First, you need to get your FICO credit scores. While CreditKarma is great for monitoring your credit reports, the scores they give you are for the most part, useless. They are Vantage 3.0 scores which no credit card issuer uses and they can vary widely from your FICO scores. They could be off as much as 100 points in one direction or the other. While ultimately a secured credit card may be your best option in the end, it is important to know your FICO scores for now and going forward.

One note about auto inquiries. While it is true that if they are done in a 2 week period they are scored as one inquiry for FICO scoring purposes. Nonetheless every inquiry counts towards your total number so if a creditor is inquiry sensitive and the computer picks up, for example 50 inquiries, it doesn't matter that they were scores as one or not, they still will see that you have 50 inquiries. Just want you and the person that responded to you to be aware of this.

Get your FICO scores for the 3 credit bureaus and let us know and then we can provide you with useful recommendations. We are here to help but we need as much info as possible to assist you adequately. Please don't apply for anything until you know those scores.

Re: Best credit card for 643 TransUnion.

Themanwhocan — Sun, 06 Aug 2017 22:27:00 GMT

creditscorecard.com will give a free FICO score from experian every 30 days. If it cannot give you a score, then you don't have the minimums necessary to generate a FICO score. If that is the case, you would need either a Secured credit card, or use the Alliant Share Secured loan, and then wait until you have at least 6 months of data on your credit reports before a FICO score can be generated.

Re: Best credit card for 643 TransUnion.

Anonymous — Mon, 07 Aug 2017 00:43:39 GMT

Thanks for the headsup! I checked with credit score card and got a score of 686!

https://imgur.com/gallery/EkTus

Re: Best credit card for 643 TransUnion.

Anonymous — Mon, 07 Aug 2017 00:53:43 GMT

@Anonymous wrote:
Thanks for the headsup! I checked with credit score card and got a score of 686!
https://imgur.com/gallery/EkTus

Much better.

If you are 21 or older check CapitalOne's PreQualified Page and see if anything shows up.

Re: Best credit card for 643 TransUnion.

Anonymous — Mon, 07 Aug 2017 00:58:48 GMT

I think so too! That's coming up from a 490. Should i be concerned about applying for capital one since they are the ones i had my first credit card with that got charged off and is no longer on my credit report? Also yes im 23

Re: Best credit card for 643 TransUnion.

Anonymous — Mon, 07 Aug 2017 01:02:50 GMT

@Anonymous wrote:
I think so too! That's coming up from a 490. Should i be concerned about applying for capital one since they are the ones i had my first credit card with that got charged off and is no longer on my credit report? Also yes im 23

How long ago was the charge off? Regardless, C1 is the most forgiving bank there is when concerns past bad accounts. People get approved all the time even though they burned them in the past. If something shows up as being prequalified, your chances are very good at getting approved.

Re: Best credit card for 643 TransUnion.

Anonymous — Mon, 07 Aug 2017 01:18:51 GMT

@Anonymous wrote:
I think so too! That's coming up from a 490. Should i be concerned about applying for capital one since they are the ones i had my first credit card with that got charged off and is no longer on my credit report? Also yes im 23

My personal experience with Cap One was that they were a charge off for me too and also included in my bankruptcy when I filed in 2015. When I got my discharge paper in the mail, I said what the hell and applied with them expecting a decline but I was approved for both their Quicksilver AND Platinum cards. I was shocked they approved me and so soon after being delinquint with them.

This is only my personal experience, but if your previous card with them isn't even on your credit report any longer you may fare just as good. They may approve with a low limit at first, but after 6 months of on time payments they give an automatic line increase. I think Cap One is the best at giving customers second chances. I would go ahead and apply.

Re: Best credit card for 643 TransUnion.

Anonymous — Mon, 07 Aug 2017 01:41:47 GMT

@Anonymous wrote:
@Anonymous wrote:
I think so too! That's coming up from a 490. Should i be concerned about applying for capital one since they are the ones i had my first credit card with that got charged off and is no longer on my credit report? Also yes im 23
How long ago was the charge off? Regardless, C1 is the most forgiving bank there is when concerns past bad accounts. People get approved all the time even though they burned them in the past. If something shows up as being prequalified, your chances are very good at getting approved.

It was back in 2015 probably, May i believe. I filed a dispute with Transunion, shortly after the balance owed got wiped to zero and then not long after that it was completely wiped from my report. Thank you guys for the guidance and encouragement. I'm going to check out the C1 prequalifieds and I'll report back here with my findings. Thanks again!

Re: Best credit card for 643 TransUnion.

Anonymous — Mon, 07 Aug 2017 01:48:34 GMT

With the legit 686 and the auto loan reporting, you should be able to secure a couple decent unsecured CC approvals... I say grab 2 so they can age together and your credit mix value goes up because of the multiple revolvers along with the installer ( being the auto loan) @ 23 you want to build volume and age that will pay dividends later
Plant seeds for fruit, you'll enjoy in the future

Best of luck, good start

Re: Best credit card for 643 TransUnion.

Anonymous — Mon, 07 Aug 2017 02:00:47 GMT

Just got approved for the Capital One Silver with the 300 credit line. That felt absolutely amazing. They pre qualified me for another card aswell. Should i jump on that?

Re: Best credit card for 643 TransUnion.

AverageJoesCredit — Mon, 07 Aug 2017 02:05:37 GMT

No, you must wait 6 months in between approvals of Cap One cards, new policy, youll just pick up a denial and hp.

Re: Best credit card for 643 TransUnion.

Anonymous — Mon, 07 Aug 2017 02:06:21 GMT

@Anonymous wrote:
Just got approved for the Capital One Silver with the 300 credit line. That felt absolutely amazing. They pre qualified me for another card aswell. Should i jump on that?

Congrats!! I would go ahead and jump on it because that's exactly what I did. Both applications filled out within 5 mins of each other and got 2 approvals. Felt wonderful!! Good luck and congrats again. You'll probably get a line increase to over 1k with 6 months of timely payments. I love Cap One.

Re: Best credit card for 643 TransUnion.

Anonymous — Mon, 07 Aug 2017 02:08:24 GMT

@AverageJoesCredit wrote:
No, you must wait 6 months in between approvals of Cap One cards, new policy, youll just pick up a denial and hp.

I wasn't aware of this. Forget my advice then and wait!

Re: Best credit card for 643 TransUnion.

Anonymous — Mon, 07 Aug 2017 02:10:46 GMT

@Anonymous wrote:
@AverageJoesCredit wrote:
No, you must wait 6 months in between approvals of Cap One cards, new policy, youll just pick up a denial and hp.
I wasn't aware of this. Forget my advice then and wait!

Ahaha i can be patient. Thanks for the heads up and thanks so much everyone else. I'm happy to be on my up to bigger better credit things. Much love to you all

Re: Best credit card for 643 TransUnion.

Themanwhocan — Mon, 07 Aug 2017 02:19:26 GMT

If you really want a second card right now, and I personally think you might be better waiting for your score to improve, then you might consider a Discover card.

Re: Best credit card for 643 TransUnion.

Anonymous — Mon, 07 Aug 2017 02:33:43 GMT

Congratulations,👏👏

1)@ Average Joe is correct the newest Cap-1 policy will NOT allow for that 2nd account for 6 months ( Chris330 must be referencing the good ole days ( I got it, too) but they don't allow it anymore) unfortunately they don't make it clear that it's one or the other, again in the old days (2015, early 2016 you could double up but no more)

2) Generally, Cap-1 will put you on the Steps program, where after you pay you bill on-time you'll get an auto increase after Statement # 7 , darn near like a video game typically either a $300 or $500 bump
* You can try for an increase after 3 months, which you likely won't get but it happened to a lucky few of us ( something, internal about your profile) otherwise the auto happens as mentioned above

Pay on-time keep your reported utilization low

As I mentioned earlier I really prefer adding 2 TLs near the same age, so I'd shop a decent companion card...

* I should note that because Cap-1 triple pulls all 3 CRA they are not my favorite shopping source for card #2 anyway....when with research those 3 HPs could have spread between 3 different vendors, likely getting an approval w/o all 3 pulls

Not a hurry but add a 2nd TL with 4-8 months so their age works for you and a 3rd within 4-8 months of then so you're set up very nicely and only mid 20's in age

Remember, I'm NOT suggesting DEBT, just build your profile BEFORE you 'need or want' to and life proves easier and less expensive 😎